Oil price drops more than US$1on IEA warning of shrinking demand

Crude oil at $60/bbl not the 'new normal' - IEA

Laurie Berry
|
14 November, 2017, 20:38

The dramatic shifts envisioned by the IEA in its World Energy Outlook would transform the US from an energy importer into a major player in global markets capable of producing 30 million barrels of oil and gas a day by 2025.

Oil producers who signed up to a landmark production cut agreement mostly stuck to the deal, with the compliance rate at 96 percent in October, and 87 percent for the year to date, the IEA also said.

But that's where the good news ends for the Canadian oilpatch. "This is a continuation of the strong demand growth we are seeing in our short term oil market analysis", the report said.

Some analysts even predict that with oil demand declining as EVs set to replace conventional fuel vehicles, oil price could plunge to as low as $10 a barrel over the next six to eight years.

"Yet this is precisely what is happening as a result of the USA shale revolution - both for oil and for natural gas", the IEA said.

But the price crash had another effect: it forced a wave of innovation that has improved shale producers' productivity and efficiency.

While the US exported 100 billion cubic metres of Canadian gas in 2005, that figure fell by over a fifth in 2016. Asian countries will become the biggest net importers of oil and gas, taking in 70 percent of imports by 2040 as their economies expand at a fast clip. "We project a continuation of these trends: imports from Canada keep falling..." But the expected increase would put the USA further into uncharted territory.

Myllyvirta said worldwide targets to curb global warming and reduce deaths from air pollution nevertheless require a greater commitment to renewable energy sources.

When applying indicators for technical analysis, traders and investors may choose to examine the ATR or average true range. Nektar Therapeutics is a biopharmaceutical firm that discovers and develops medicines in areas of high unmet medical need.

Oh no that means you would have gotten too much good p***y in your life", wrote West in all-caps. "Neither is David Letterman ". But Kim Kardashian got way more personal, reciting a zinger that now-husband Kanye West fired at Kimmel during their 2013 feud.

Another footballing giant has missed out on next summer's World Cup , and this time it is four-time world champions Italy. It was a huge ask of the Brazil-born player who had not previously played a competitive game for Italy.

TRADEMARK VIOLATION NOTICE: This piece of content was originally posted by Week Herald and is the sole property of of Week Herald. The company reported $1.43 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of $1.19 by $0.24.

That would be tough to match, but if there's a healthy paycheck involved for both fighters, you can never say never. In an interview with Dash Radio, De La Hoya even claimed that he could knockout McGregor within two rounds.

But the pilot could not land the flight immediately, as the rear wheel was damaged in the run-in and failed to retract. The incident occurred at around 10 p.m. on Sunday when the wild boar ran into the flight path, hitting a rear wheel.

We want the federal government to produce Nnamdi Kanu with immediate effect or there will be no peace. He said, "The stakeholders meeting in Anambra State has been fixed for Tuesday, November 14".

Three Killed in Tehama County School Shooting: Sheriff
Johnston told local media at least three people are dead, but did not elaborate if any students were among the dead. Multiple shots were fired at about 8am local time at the Rancho Tehama School on the outskirts of Corning.

Moon and Li agree to normalize bilateral ties
President Donald Trump exchanged war-like threats and insults over the North's nuclear and missile development programme. Global leaders have begun arriving here in Manila, the Philippines for the 31st ASEAN-related summits.

Black Friday and Cyber Monday
Before heading out to the mall or going online, it is helpful to make a list of what you need to buy and what you'd like to buy. To protect you on Black Friday, the BBB advises consumers to not believe all they see or hear without doing their own research.

World's Oldest Wine Found In Georgia
As far as the first fermented beverage goes, China holds that record with a drink that McGovern traced back to 7,000 BC. Analysis of pottery fragments revealed traces of substances such as tartaric acid, a chemical fingerprint of grapes.

Ronaldo reject new Real Madrid contract, wants exist
But that the request was unequivocally rejected - and that has only worked to worsen the superstar's anger towards the club. The Portugal global has undergone a dip in form in recent months, scoring just one La Liga goal so far this season.

Improved Wireless Charging Coming With iOS 11.2
Don't use visual adornments like brackets, bezels, shapes, or instructional text to call special attention to these areas, either. But for those of you who can't seem to adjust, there is now an app you can download to make the adjustment easier.

Turnbull cops a battering over same-sex marriage
Many other MPs have said it's 'complicated' and will wait for the final result before they announce their move. If the result is 'no, ' Turnbull has said it will be off the agenda as long as the Liberal Party is in charge.

Momentum Stock: JC Penney Company Inc (JCP)
Penney Company Inc (NYSE:JCP) stock a Buy, 1 rate the stock Outperform, 18 rate Hold, 0 rate Underperform and 1 recommend a Sell. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link .

Amazon sells off China cloud services arm
AWS has a separate hardware venture in partnership with the Ningxia provincial government in China's northwest. In China, regulations require Amazon to operate via a local partner before offering the services to customers.